St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-10-01

k NOW ALL MEN BY THESE PRESENTS:
- Inat we, the undersigned have agreed
10 ana do hereby associate ourselves togeth-
CT ior tue purpose OF becoming incorporated
unQer ana pursuant to the laws of the state
OF Minnesota, and to that end we do hereby
adopt and sign the following articles of in.
corporation, VIZ:
Flrst-The name of the cOrporation here-
by formed shall be the Sandstone Townsife
company, and the general nature of its bust
ness shall be the buying, owning, leasing.
plating improving. selling, mortgaging and
dealing in lands, tenements and heredita
ments and real, personal and mixed estate il,
the county of Pine and state of Minnesota.
The principal place for transacting the bust.
ness Oh said corporation shall be the city of
St Paul, in the county of Ramsey and State
OF Minnesota.
Second-The time of commencement of
said corporation shall be the 9th day of
september, 1887, and the period of its con-
tinuance shall be the term of thirty years.
Thfrd-The amount of capital stock of said
corporation shall be ten thousand 10 OOOl
dollars and shall be divided into 200 (twd
n11unnldIeU shares OF the par value of fifty
(5O) dollars each and shall be paid for in
money or such other property, real or per.
sonai, as the board of directors of such cor.
porauon may agree to accept in lieu of
money at the time of the Issuance of said
stock. 1
Fourth.The highest amount of indebted
ness or liability to which said CORPORATION
shaIi De az any any tune subject shall be five
Fnth-The names of the persons forming
this corporation and their places of resi-
dence are: William II. Grant and John P.
Knowles, both residing at st. Paul, Ramsey
county, Minnesota; Fred A. Hodge and
James Hurley, both residing at Pine City,
Pine county, Minnesota.
Sixth-The government of said corporation
and the management of its affairs shall be
vested in board of five directors, who shall
be elected from and by the stockholders at
the annual meeting. to be held as provided
IN the bylaws to be adopted, and the said di-
recIors Immediately after their election, shall
president, secretary and treasurer. Said d.
rectors and officers shall respectively hold
tnelr once for the period of one year after
sald election and until their successors are
elected and qualified. Said officers shall per-
form such duties as shall be prescribed by
the bylaws, and the Office of Secretary and
treasurer may be filed by the same person
me annual stockholders meeting for the
action of such other business as
may properly come before it. shall
be held at the Office of said cor
p oration at such time as the bylaws shall
prescribe, and special meetings of the stock
holders shall be held at such times and under
such rules and regulations as to notice or
0therWlse as may be prescribed by the by
be represented and vote by proxy, duly ap-
pointed, and at any stockholders meeting
each stakeholder shall be entitled to one vote
ior eacn snare OF STOCK held by him, and the
holders OF majority of the stock shall con-
sutute quorum at such meetings for the
transaction of business
The duties and compensation of the Off
GERS or said corporation shall be fixed by the
bylaws. The bylaws of said corporation
snail be adopted by the stockholders at their
hrst annual meeting, or at a special meeting
10 De called for that purpose, and shall be
changed, altered or amended only at an an
nual meeting of the stockholders or at spe-
clal meeting called for Ghat purpose, but the
hrst board OF directors may adopt bylaws
which shall continue in force until bylaws
shall have been adopted by the stockholders,
as hereinbefOre provided.
The first board of directors of said corpora
ton shall consist of William H. Grant John
T. Knowles, Fred A. Hodge and James Hur-
ley, and William FL. Grant, Dr., of whom
William 81. Grant shall be president and
John T. Knowles shall be secretary and treas
urer OF said corporation, and shall hold their
ohces until the next annual meeting of the
stockholders and until their successors are
elected and qualified
In witness whereof we have hereunto set
our hands and seals this 9th day of Septem.
ber 1887.
WILLIAM Fl. GRANT, fSeaIl
JOHN P. KNOWLES, fSeal1
FRED a. HODGE, 1Seal1
JAMES HURLEY, fSeaI.1
In presence of
III. ii. HERBsT,
LA FAYETTE SHAW